All State Properties Holdings Signs Final
Agreement for the Purchase of Gold and Platinum
Mineral Rights in Utah
August 11, 2010 09:03 AM Eastern Daylight Time
MEMPHIS, Tenn.--(EON: Enhanced Online News)--All State Properties Holdings, Inc. (OTCBB: ATPT) today
announced that they have completed an Asset Purchase Agreement to finalize the purchase of certain mineral rights
in Utah. The deal will be financed with both cash and restricted shares of the company’s stock. Details of the
complete financing will be forthcoming at the appropriate time.
Also included in the Purchase Agreement are 10,000 tons of existing mined ore, including gold and platinum already
on the ground, which the company believes can be processed immediately for more prompt cash flow. At a
conservative recovery rate of 21.51 oz./ton, the estimated value of the gold only on the ground will be
$236,000,000 USD, assuming the value and quantity presented. CEO of All State Properties Holdings, Inc., Robert
Gates, stated, “We are very excited to add this property to our holdings as it will immediately add to the valuation of
our company ATPT. The recovery estimates are based on the amount of ore already mined and available, and
represent a small portion of the total value of the property.”
About All State Properties Holdings, Inc.
All State Properties Holdings, Inc. (OTCBB: ATPT) is a publicly traded company whose primary objective is to
seek out and develop opportunities in the energy and mineral sectors. It focuses on the acquisition, exploration, and
development of mineral reserves in North America through asset purchases or company transactions, and on further
developing those reserves to increase production. The company is based in Memphis, Tennessee.
Management believes that a balanced strategy of acquisitions coupled with increased production can rapidly grow its
reserve base and increase shareholder and company value.
All State Properties Holdings believes it is well prepared to succeed in both its geographic and